Automobile Credit Cards

Automobile Credit Cards

Rewards for purchases that will get you driving towards a new car! Automobile cards can get you up to $2500 for a new car.

A relatively new trend with credit cards is the automobile reward card. Similar to an airline reward card, which allows you to earn frequent flier miles for every dollar you spend, an automobile reward card allows you to earn cash towards a car purchase.

This is a new trend in credit cards, but automobile companies are no strangers to credit. GM was one of the earliest companies to offer financing in America – allowing people to pay off their car purchases in payments as early as 1919¹. This stroke of genius provided a solution to the problem of needing a car to get to a job to get the money to buy the car.

Now, it’s even easier: by simply making your regular purchases on your credit card, you can earn money to buy your car (or at least lower your monthly payment). For example, the Chase Subaru Master Card has no annual fee and allows you to earn up to 3 SubaruBucks for every hundred dollars you charge.

A card from GM works much the same way. You can even earn money towards Harley-Davidson parts and accessories with the Harley-Davidson Visa.

Some cards offer not only money towards vehicle purchases but also towards repairs and maintenance. If the average oil change costs $20 and your credit card earns you 1% towards your car, all you need to do is charge $2,000 to your card every 5,000 miles² (easy to do if you charge all of your every-day purchases including gasoline and groceries) and you’ll never pay for an oil change again.

¹ http://www.usnews.com/usnews/nycu/money/articles/010319/debt.b.htm
² http://www.cars.com/carsapp/national/?srv=parser&act=display&tf=/advice/caradviser/oil_change.tmpl